Nationwide Fund Advisors lifted its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 31.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,672 shares of the company’s stock after buying an additional 24,785 shares during the quarter. Nationwide Fund Advisors owned about 0.10% of Sinclair Broadcast Group worth $3,378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. increased its position in shares of Sinclair Broadcast Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 11,636 shares of the company’s stock worth $383,000 after buying an additional 30 shares during the period. Kissinger Financial Services LLC increased its position in shares of Sinclair Broadcast Group by 0.5% during the second quarter. Kissinger Financial Services LLC now owns 8,742 shares of the company’s stock worth $287,000 after buying an additional 45 shares during the period. Teacher Retirement System of Texas increased its position in shares of Sinclair Broadcast Group by 2.7% during the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock worth $202,000 after buying an additional 164 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair Broadcast Group by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after buying an additional 273 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Sinclair Broadcast Group by 9.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock worth $131,000 after buying an additional 278 shares during the period. Institutional investors own 80.87% of the company’s stock.

Shares of Sinclair Broadcast Group, Inc. (SBGI) opened at 31.15 on Wednesday. The firm has a 50-day moving average of $29.87 and a 200-day moving average of $33.80. The firm has a market capitalization of $3.20 billion, a PE ratio of 10.92 and a beta of 1.83. Sinclair Broadcast Group, Inc. has a 12-month low of $24.15 and a 12-month high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. The business had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. Equities analysts anticipate that Sinclair Broadcast Group, Inc. will post $2.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, August 30th. Sinclair Broadcast Group’s payout ratio is currently 24.83%.

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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $31.98, for a total transaction of $32,299.80. Following the transaction, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.20% of the stock is currently owned by insiders.

Several equities research analysts have recently weighed in on SBGI shares. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Benchmark Co. increased their price objective on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Saturday, August 5th. ValuEngine cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Eight equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $44.86.

Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.

Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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